... appropriate safety margin on top of these amounts is required. 2 8. For the purposes of determining compliance with the solvency margin requirement, the value of assets, in the case of a general business insurer, is to be determined in accordance with the Insurance Companies (General Business) (Valuation...

... Fourth virtual insurer granted new authorization under Fast Track 4 May 2020 The Insurance Authority (IA) today (4 May 2020) granted authorization under Fast Track to the fourth virtual insurer, which is affiliated with a locally listed company with...

... Insurance Authority – Briefing Session on 21 July 2017 31 July 2017 1 Bullet points of major principles/concepts for premium levy collection:  Deduct levy (together with premium) by auto-pay  Need policy holder consent, e.g. notify policy holder of the “default option” and allow opt out in...

... handling by authorized insurers with the objective of ensuring policyholders are treated fairly and their interests are protected in the claims handling process. In this article we explain these regulatory principles and standards. Then in the next article, with a specific focus on medical insurance claims...

... opening an ISSB office in Beijing, China on 19 June 2023. The Steering Group looks forward to engaging with the ISSB in the sustainability reporting journey and collaborating on capacity building. The Steering Group will also maintain a close dialogue with market participants and stakeholders, with a view...

... Insurance Authority warns against fraudulent Facebook page and website 17 March 2023 The Insurance Authority (IA) today (17 March 2023) wishes to alert members of the public in Hong Kong to a fraudulent Facebook page with the domain name of “https...

... process.  Furthermore, we are closely liaising with the Self-regulatory Organizations (“SROs”) on transitional arrangements to ensure smooth transfer of data and records.     Industry Consultation To ensure appropriateness of the rules, codes and...

... Individual Licensees complied with these requirements on time. This means the overall compliance rate has improved from 90% in the Assessment Period 2021/22 to 96.1% in the Assessment Period 2022/23. But this improvement only tells part of the story. Firstly, whereas last year (i.e....

... Separate subsidiary legislation for the collection of a levy on premiums from policy holders with effect from 1 January 2018 has been submitted to the Legislative Council for vetting. Members of the public are welcome to visit the IA website, which will be launched on 26 June 2017, to learn more...

... Separate subsidiary legislation for the collection of a levy on premiums from policy holders with effect from 1 January 2018 has been submitted to the Legislative Council for vetting. Members of the public are welcome to visit the IA website, which will be launched on 26 June 2017, to learn more...